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29 Jul 2015
EUR/GBP sinks to 0.7070
FXStreet (Edinburgh) - The increasing offered tone around the sterling and the euro is weighing on EUR/GBP, dragging it to daily lows in the 0.7070 area.
EUR/GBP focus on UK data, FOMC
The European cross is retreating for the second consecutive session so far, correcting lower from Monday’s tops near 0.7160. The risk averse tone continues to prevail in the global markets ahead of the FOMC meeting due this evening in Europe.
In the data front, nothing worth mentioning in the euro area, while Mortgage Approvals, Consumer Credit and M4 Money Supply are all due across the Channel.
EUR/GBP key levels
As of writing the cross is retreating 0.10% at 0.7075 with the next support at 0.7053 (low Jul.24) ahead of 0.7000 (psychological level) and finally 0.6989 (low Jul.23). On the other hand, a surpass of 0.7150 (high Jul.27) would expose 0.7203 (high Jul.13) and then 0.7223 (high Jul.10).
EUR/GBP focus on UK data, FOMC
The European cross is retreating for the second consecutive session so far, correcting lower from Monday’s tops near 0.7160. The risk averse tone continues to prevail in the global markets ahead of the FOMC meeting due this evening in Europe.
In the data front, nothing worth mentioning in the euro area, while Mortgage Approvals, Consumer Credit and M4 Money Supply are all due across the Channel.
EUR/GBP key levels
As of writing the cross is retreating 0.10% at 0.7075 with the next support at 0.7053 (low Jul.24) ahead of 0.7000 (psychological level) and finally 0.6989 (low Jul.23). On the other hand, a surpass of 0.7150 (high Jul.27) would expose 0.7203 (high Jul.13) and then 0.7223 (high Jul.10).